ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $23.73, but opened at $24.37. ConnectOne Bancorp shares last traded at $24.65, with a volume of 91,401 shares changing hands.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods raised shares of ConnectOne Bancorp from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $31.00 to $32.00 in a report on Wednesday.
Read Our Latest Report on ConnectOne Bancorp
ConnectOne Bancorp Price Performance
The stock has a market capitalization of $928.65 million, a P/E ratio of 13.67 and a beta of 1.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $24.74 and a two-hundred day simple moving average of $25.02.
ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. Sell-side analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.
ConnectOne Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp's payout ratio is 40.68%.
Institutional Trading of ConnectOne Bancorp
Several institutional investors and hedge funds have recently bought and sold shares of CNOB. First Trust Advisors LP lifted its holdings in shares of ConnectOne Bancorp by 1.7% during the fourth quarter. First Trust Advisors LP now owns 23,601 shares of the financial services provider's stock worth $541,000 after buying an additional 389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of ConnectOne Bancorp by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,623 shares of the financial services provider's stock valued at $472,000 after purchasing an additional 722 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of ConnectOne Bancorp by 792.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 1,030 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of ConnectOne Bancorp by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 22,323 shares of the financial services provider's stock worth $511,000 after buying an additional 1,202 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in ConnectOne Bancorp by 5.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 30,343 shares of the financial services provider's stock worth $760,000 after acquiring an additional 1,605 shares during the last quarter. Institutional investors own 67.70% of the company's stock.
ConnectOne Bancorp Company Profile
(
Get Free Report)
ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.
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